Due to rising food costs, Nigeria’s inflation climbed from 28.92 percent in December 2023 to 29.90 percent in January 2024.
This was revealed on Thursday in the most recent Consumer Price Index released by the National Bureau of Statistics, or NBS.
The agency reports that the percentage is 0.98 percentage points higher than the 28.92 percentage points seen in December 2023.
In a same vein, NBS reported that the headline inflation rate increased 8.08 percentage points year over year to 21.82 percent in January 2023.
It stated that, compared to January 2023, when the headline inflation rate was reported at 21.82 percent, it was 8.08 percent higher in January 2024.
Details soon…